During a visit to the Pembroke Dock business today First Minister Carwyn Jones was pleased to announce that the company would receive financial support worth £140,000 from the Fund:
"United Aerospace Ltd is an excellent example of a highly innovative Welsh business that with funding support can become more efficient and competitive which is vitally important in these challenging economic conditions.
"I am extremely pleased that I have been able to witness first hand the work of the company and am equally pleased that the Welsh Government is able to support this project and safeguard and create jobs in West Wales."
Gareth Burks, Managing Director of the Pembroke Dock based business, said the support from the Wales Economic Growth Fund is vital to ensure the project goes ahead:
"It means we can invest in new high specification equipment that will enable us to increase both production levels as well as product complexity to satisfy existing contracts as well as attracting new business.
"It will also enable us to compete with bigger more established companies across the globe which will ensure the job security for the present work force for the foreseeable future as well as creating future employment for others."
In addition to safeguarding jobs the project will also create eight new jobs in the first year.
United Aerospace Ltd are designers, manufacturers and finishers of glass and carbon fibre reinforced composite components for a wide variety of industries including Aerospace, Defence, Medical and renewable energy.
It was established in 2004 after a successful Management Buy Out and has grown to be the biggest of its kind in Wales and in the top five within the UK.